Renaissance Holdings to be bought: Prospect Heights-based...

CHICAGO TRIBUNE

Renaissance Holdings to be bought: Prospect Heights-based Household International announced that it has signed a definitive agreement to purchase Renaissance Holdings, Inc., a privately held issuer of secured and unsecured credit cards to non-prime customers, for approximately $300 million. Approximately 70 percent of the consideration will be in the form of Household common shares and the remainder will be in cash. The transaction is expected to close in the first quarter.